二、募集资金存放和管理情况 （一）募集资金管理情况 证券代码:002225 证券简称:濮耐股份 公告编号:2024-074 濮阳濮耐高温材料（集团）股份有限公司 关于部分募集资金专户销户的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、误导 性陈述或重大遗漏。 一、募集资金基本情况 濮阳濮耐高温材料（集团）股份有限公司（以下简称"公司"）根据中国证券 监督管理委员会出具的《关于核准濮阳濮耐高温材料（集团）股份有限公司公开 发行可转换公司债券的批复》（证监许可〔2020〕3350 号）的核准，向社会公开 发行面值总额 626,390,300.00 元可转换公司债券，期限 5 年。本次发行可转换公 司债券募集资金总额为人民币 626,390,300.00 元，扣除各项发行费用人民币 8,742,020.78 元，实际募集资金净额为人民币 617,648,279.22 元。上述募集资金 到位情况已经中勤万信会计师事务所（特殊普通合伙）验证，并于 2021 年 6 月 1 日出具了勤信验字[2021]第 0022 号《验资报告》。 公司于 2024 年 7 月 11 日召开第六届董事会第 ...

证券研究报告 | 半年报点评 gszqdatemark 2024 08 21 年 月 日 濮耐股份（002225.SZ） 国内耐材量增价减，海外耐材增势不改，湿法冶金放量在即 事件：濮耐股份发布 2024 半年报。公司上半年实现收入 26.98 亿元，同 比增长 2.54%，归母净利润 1.33 亿元，同比下滑 8.16%，上半年政府补 助、单项应收款减值转回等非经常性损益共计3541万元，去年同期为1039 万，扣非后归母净利润 9777 万元，同比下滑 27.37%。单二季度公司收入 13.99 亿元，同比下滑 0.95%，归母净利润 6792 万元，同比下滑 32.82%， 扣非后归母净利润 4355 万元，同比下滑 54.13%。 国内耐材收入规模受降价冲击，但海外耐材及原材料板块正增长。分板块 来看，1）上半年国内钢铁事业部收入 15.93 亿元，同比变动不大，推测 主要受降价拖累，实际份额仍在持续上升。2）海外钢铁事业部收入 7.23 亿元，同比增长 0.3%，推测部分国家地区上半年钢铁生产波动较大。3） 环保耐材事业部收入 1.46 亿元，同比下降 15.91%。4）原材料事业部上 半年收入 2 ...

Investment Rating - The report maintains an "Accumulate" rating for the company [4][11]. Core Views - The company reported a revenue of 2.698 billion yuan for the first half of 2024, representing a year-on-year increase of 2.54%. However, the net profit attributable to shareholders decreased by 8.16% to 133 million yuan, and the net profit after deducting non-recurring gains and losses fell by 27.37%, slightly below expectations [11]. - Domestic business remains stable, while overseas growth is experiencing a temporary slowdown. The company is making progress in the verification of magnesium oxide for wet metallurgy applications, with multiple customer trial orders obtained [5][11]. - The company has adjusted its EPS forecasts for 2024-2026 to 0.27, 0.32, and 0.38 yuan, respectively, while maintaining the target price at 5.36 yuan [11]. Financial Summary - The company achieved a domestic revenue of 1.972 billion yuan in the first half of 2024, an increase of 3.45%. The overseas revenue was 726 million yuan, a slight increase of 0.16% [11]. - The overall gross margin has slightly decreased due to rising raw material prices and pricing pressures in the refractory materials sector, but ongoing cost reduction and efficiency improvements are expected to stabilize profitability [11]. - The company is focusing on high-end applications in the magnesium industry, with successful breakthroughs in wet metallurgy magnesium oxide technology, which is expected to drive domestic substitution demand [11].

Investment Rating - The report maintains a "Buy" rating for the company, with a target profit forecast for 2024-2026 of 2.85 billion, 3.40 billion, and 3.97 billion respectively, corresponding to P/E ratios of 12, 10, and 9 [2]. Core Insights - The company's revenue for the first half of 2024 was 2.7 billion, with a year-on-year increase of 2.5%. However, the net profit attributable to shareholders decreased by 8.2% to 130 million, and the net profit after deducting non-recurring gains and losses fell by 27.4% to 100 million [2]. - The company experienced a significant improvement in operating cash flow, with a net cash flow from operating activities of 250 million, an increase of 200 million year-on-year, primarily due to improved collection [1][2]. - The company is expanding its active magnesium oxide business and gradually ramping up production at its U.S. plant, which is expected to benefit from high tariffs on Chinese products [1]. Summary by Sections Revenue Performance - In the first half of 2024, the company achieved revenue of 2.32 billion from steel refractory materials, 180 million from environmental refractory materials, and 400 million from raw materials, with year-on-year changes of -0.8%, -22.3%, and +79.1% respectively [1]. Profitability Metrics - The overall gross margin for the first half of 2024 was 19.1%, a decrease of 1.2 percentage points year-on-year. The gross margin for Q2 was 18.5%, down 1.8 percentage points, mainly due to rising costs of raw materials and export freight [1]. Cash Flow Analysis - The net cash flow from operating activities for Q2 was 250 million, reflecting a significant improvement due to better collection rates, with a collection ratio up by 20.5 percentage points year-on-year [1][2]. Future Outlook - The company is expected to benefit from the ramp-up of its U.S. plant and the active magnesium oxide business, with ongoing negotiations for trial orders with multiple clients in the cobalt and nickel markets [1].

相关方法律责任的权利好的各位投资者晚上好我是国盛顿券建材行业分析师陈关宇今天很高兴能够邀请到普纳股份的董事长刘总以及董秘同总来为我们做一个中报的解读那么首先我们还是有请同总针对上半年公司的经营情况做一个简单的总结下面有请同总各位投资者大家晚上好 我先简要的把今天下午才刚刚披露的这个半年报的一些业经营的一些财务结果再向各位投入再简单的概述一下公司今年上半年本报告期就是实现的销售收入为26.98个亿将近30个亿同比增长就是跟去年相比同比增长了2.54%归属于上市公司 普通的净利润是1.33个亿相较于去年上半年的1.45个亿是有一个8%左右的一个下降那么其他的各项指标其实我们都已经披露了因为这个指标比较多那么主要的结果我只讲这么多那么重点我也简单的先让这位投资者就要说明的是前面在今年上半年取得的1.33亿这一个实际上也是一个非常来之不易的一个 呃经营结果其中呢因为去年大家都反复关注到公司去年二季度的这个汇兑的收益是比较高的而今年呢肯定整个汇兑的收益都比去年少很多于是我们总的来说今年上半年的汇兑收益和今年呃去年上半年的汇兑收益相比呢应该说汇兑这一块是减少了2259万就是汇兑的这块但是各位投资也都关注到了实际上毛利率呢 ...

Financial Performance - The company's operating revenue for the first half of 2024 was CNY 2,697,613,511.91, representing a 2.54% increase compared to CNY 2,630,680,776.65 in the same period last year[11]. - The net profit attributable to shareholders of the listed company decreased by 8.16% to CNY 133,172,072.88 from CNY 144,999,383.46 year-on-year[11]. - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 27.37% to CNY 97,766,435.34 compared to CNY 134,608,894.25 in the previous year[11]. - The basic earnings per share decreased by 7.14% to CNY 0.13 from CNY 0.14 in the same period last year[11]. - The total operating revenue for the reporting period was CNY 2,697,613,511.91, representing a year-on-year increase of 2.54% compared to CNY 2,630,680,776.65 in the same period last year[23]. - The net profit attributable to shareholders was CNY 133.17 million, a decrease of 8.16% compared to the previous year[21]. - The steel division's revenue was CNY 2,318.53 million, down 0.79% year-on-year, while the raw materials division saw a significant increase of 79.12% to CNY 403.05 million[21]. - The company reported a total of 41,959.70 million CNY in accumulated investment from raised funds, with a remaining balance of 19,825.34 million CNY in unused funds[36]. - The total revenue for the first half of 2024 was 62,639.03 million CNY, with a net profit of 3,084.67 million CNY, reflecting a significant increase compared to the previous period[36]. Cash Flow and Assets - The net cash flow from operating activities increased significantly by 88.40% compared to CNY 128,008,844.58 in the previous year[11]. - The company's cash and cash equivalents decreased by CNY 56,418,810.63, a decline of 180.07% compared to the previous period[23]. - The total assets at the end of the reporting period were CNY 8,195,000,000, with cash and cash equivalents making up 5.73% of total assets[25]. - The net cash flow from financing activities was CNY -221,443,148.63, a decrease of 172.53% due to reduced dividends and bank loan net amounts[23]. - The company's cash flow from operating activities generated a net amount of CNY 241,167,598.70, an increase from CNY 128,008,844.58 in the first half of 2023[134]. - The company's cash and cash equivalents at the end of the first half of 2024 were CNY 419,102,629.99, compared to CNY 300,055,046.34 at the end of the first half of 2023[134]. - The total assets at the end of the reporting period were 3,350.920 million, reflecting the company's asset management strategy[140]. Research and Development - The company's R&D investment increased by 24.11% to CNY 96.41 million, reflecting a commitment to technological innovation[21]. - The company has established two technology research centers, focusing on both forward-looking and application-oriented research, to enhance its R&D capabilities[16]. - Research and development expenses rose to CNY 96,406,325.42, an increase of 23.9% compared to CNY 77,680,292.87 in the previous year[129]. - The company has committed to investing 100 million yuan in R&D for new technologies over the next two years[72]. Market Expansion and Strategy - The company’s overseas market revenue reached a historical high in 2023, maintaining the top position in export trade within the industry[16]. - The company is expanding its market presence, particularly in the US and Serbia, with production capacity being released in these regions[21]. - The company plans to expand its market presence in Southeast Asia, targeting a 25% market share in the region by 2025[72]. - A strategic acquisition of a local competitor is in progress, which is anticipated to enhance production capacity by 30%[72]. Environmental Compliance and Sustainability - The company has completed environmental compliance procedures for several projects, including a 30,000-ton production line upgrade in January 2024[46]. - The company has maintained its pollution discharge standards in accordance with national and local regulations[45]. - The company has achieved a dust removal efficiency of 99% in its production processes through the use of advanced dust collection technologies[54]. - The company has implemented a comprehensive air pollution control strategy, achieving over 60% of industrial kilns meeting ultra-low emissions standards[52]. - The company has conducted bi-weekly environmental inspections to monitor and control pollution during production processes[53]. - The company has set a target for total emissions of sulfur dioxide at 0.081 tons per annum and nitrogen oxides at 12.39 tons per annum, indicating a focus on compliance with environmental standards[48]. Corporate Governance and Shareholder Relations - The company has not engaged in derivative investments during the reporting period[31]. - The company has not identified any breaches of commitments made by actual controllers, shareholders, and related parties during the reporting period[71]. - The company has committed to bearing all potential compensation liabilities related to uncontacted shareholders in a previous equity transfer, ensuring the legality of its ownership of 100% of Zhengzhou Huawai's equity[71]. - The company has established a limit on share transfers for executives, not exceeding 25% of their total shares annually during their tenure[73]. - The company has promised to align executive compensation with the execution of measures to mitigate dilution of immediate returns from non-public stock issuance[73]. Legal and Regulatory Matters - The company is involved in a patent infringement lawsuit with a claim amount of 13.2825 million yuan, awaiting a verdict from the Supreme Court[76]. - The company has ongoing litigation involving a claim of 6.1371 million yuan against a debtor, which has been resolved with full payment received[76]. - The company has not reported any penalties or rectification measures during the reporting period[79]. Financial Ratios and Metrics - The company's current ratio is 1.69, a decrease of 2.87% compared to the previous year[120]. - The debt-to-asset ratio stands at 56.68%, down by 0.20% from the previous year[120]. - The interest coverage ratio is 5.74, which is a decrease of 7.72% compared to the previous year[120]. - The cash interest coverage ratio improved to 9.19, an increase of 13.32% year-on-year[120].

第一章 总则 第一条 为加强濮阳濮耐高温材料（集团）股份有限公司（以下简称"公司"） 对公司董事、监事和高级管理人员持有及买卖本公司股份的管理工作，进一步明 确办理程序，根据《中华人民共和国公司法》（以下简称《公司法》）《中华人 民共和国证券法》（以下简称《证券法》）、中国证监会《上市公司董事、监事 和高级管理人员所持本公司股份及其变动管理规则》及《深圳证券交易所上市公 司自律监管指引第 10 号—股份变动管理》《深圳证券交易所上市公司自律监管 指引第 18 号—股东及董事、监事、高级管理人员减持股份》等法律法规和中国 证监会的有关规定，并结合公司实际情况，制定本制度。 第二条公司董事、监事和高级管理人员应当遵守《公司法》《证券法》和有 关法律、行政法规，中国证监会规章、规范性文件以及证券交易所规则中关于股 份变动的限制性规定。 公司董事、监事和高级管理人员就其所持股份变动相关事项作出承诺的，应 当严格遵守。 第三条 本制度由公司董事会负责制定，董事会应当保证制度的有效实施。 第二章 一般原则和规定 第四条 公司董事、监事和高级管理人员应当主动并如实向公司申报所开设 的股票账户和持有本公司的股票及其变动情况。 ...

证券代码:002225 证券简称:濮耐股份 公告编号:2024-068 濮阳濮耐高温材料（集团）股份有限公司 第六届董事会第二十次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、误导 性陈述或重大遗漏。 二、董事会会议审议情况 本次会议经过认真讨论，采取记名投票方式，审议通过了如下议案： 1、以9票赞成、0票反对、0票弃权审议通过了《关于<2024年半年度报告> 及其摘要的议案》 详见登载于巨潮资讯网上的《2024年半年度报告》及刊登于《证券时报》、 《中国证券报》和巨潮资讯网上的《2024年半年度报告摘要》（公告编号： 2024-070）。 2、以9票赞成，0票反对，0票弃权审议通过了《关于公司2024年半年度募 集资金存放与使用情况的专项报告的议案》 具体内容详见刊登于《证券时报》、《中国证券报》和巨潮资讯网上的《2024 年半年度募集资金存放与使用情况的专项报告》（公告编号：2024-071）。 一、董事会会议召开情况 濮阳濮耐高温材料（集团）股份有限公司（以下简称"公司"）第六届董事 会第二十次会议通知于2024年8月5日以电子邮件形式发出，于2024年8月15日 ...

证券代码：002225 证券简称：濮耐股份 公告编号：2024-071 濮阳濮耐高温材料（集团）股份有限公司 2024 年半年度度募集资金存放与使用情况的专项报告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、误导 性陈述或重大遗漏。 根据中国证监会发布的《上市公司监管指引第 2 号——上市公司募集资金管 理和使用的监管要求》（证监会公告[2022]15 号）和深圳证券交易所《深圳证券 交易所上市公司自律监管指引第 1 号——主板上市公司规范运作》、《深圳证券交 易所上市公司自律监管指南第 2 号——公告格式》等有关规定，濮阳濮耐高温材 料（集团）股份有限公司（以下简称"公司"）董事会编制了截止 2024 年 6 月 30 日募集资金存放与实际使用情况的专项报告。 一、募集资金基本情况 （一）实际募集资金金额和资金到账时间 公司根据中国证券监督管理委员会出具的《关于核准濮阳濮耐高温材料（集 团）股份有限公司公开发行可转换公司债券的批复》（证监许可〔2020〕3350 号） 的核准，向社会公开发行面值总额 626,390,300.00 元可转换公司债券，期限 5 年。 本次发行可转换公 ...

濮阳濮耐高温材料（集团）股份有限公司 | 其它关联资 | 上海宝明耐火材料 | 控股子公司 | 其他应收款 | 87,153,765.08 | 40,305,215.40 | | | 127,458,980.48 | 补充流动 | 经营性资 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 金往来 | 有限公司 | | | | | | | | 资金 | 金占用 | | 其它关联资 | 洛阳索莱特材料科 | 控股子公司 | 其他应收款 | 2,184,600.00 | 560,000.00 | 40,666.98 | 40,666.98 | 2,744,600.00 | 补充流动 | 经营性资 | | 金往来 | 技有限公司 | | | | | | | | 资金 | 金占用 | | 其它关联资 | 上海银耐联供应链 | 控股子公司 | 其他应收款 | 1,775,757.98 | | | 1,775,757.98 | 0.00 | 补充流动 | 经营性资 | | 金往来 | 有限公司 | | | | | | | | 资 ...